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Lululemon Athletica Inc.’s inventory dropped roughly 17 per cent in Friday morning buying and selling and remained down into the afternoon because the market reacted to monetary outcomes launched the day earlier than.

The Vancouver-based athletic attire retailer’s fourth quarter introduced US$669.5 million in earnings, up from US$119.8 million a yr earlier.

Regardless of the rise, executives mentioned the interval ended Jan. 28 was marked by softness within the U.S. market.

The corporate additionally noticed a rise in youthful company purchasing at Lululemon, leading to extra demand for smaller sizes and a wider vary of colors.

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However CEO Calvin McDonald informed analysts on a convention name that the corporate didn’t have sufficient product to maintain up with the demand.

He says the corporate will look additional into how its product assortment and methods may higher fulfill the youthful demographic.

This report by The Canadian Press was first printed March 22, 2024.

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